In The Know: Weekly Music Industry Round-Up July 21

SoStereo’s weekly music and advertising news round up
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Here’s a recap of important music business news you need to know:

“Despacito” breaks the streaming record in just six months:

The collaboration by Luis Fonsi, Daddy Yankee and Justin Bieber made its unlikely ascent to No. 1 on the Billboard charts and has not relinquished its position for 10 weeks now. It is the first song sung mostly in Spanish to reach the top of the charts since "Macarena" in 1996. “Despacito” has surpassed “Sorry” for most streams ever at 4.6 billion plays across various platforms. It is buoyied by two versions – the remix with Justin Bieber and the original, which is actually doing better.

The original has 2.7 billion plays on YouTube and counting, while the remix has 432 million and counting. In total, the two versions have over 1.1 billion plays on Spotify.

“Despacito” shows no signs of slowing down, so it will likely grow its lead over “Sorry” and other songs, but as streaming becomes more ubiquitous, another song will likely unseat it in the next 12 months because these numbers keep on getting bigger and bigger every year.

Linkin Park’s Chester Bennington Commits Suicide:

On what was to be Chris Cornell’s 53rd birthday, his friend and colleague, Chester Bennington, the frontman for Linkin Park committed suicide. The music community reacted yesterday with overwhelming sadness and support for his family and the group.

It is a stark reminder that depression is a very real issue in music. It doesn’t matter if the person seemingly has the world in terms of wealth, fame, fans and a family, depression can cut deeper than all of that. The stigma around it in music and society is starting to change, but slowly. We just hope it doesn’t change so slowly that there have to be too many more Chester Benningtons.

Warner Music Group Acquires Songkick:

Warner Music Group makes a major play into the live sector with the acquisition of concert discovery platform Songkick. Warner will acquire the core assets of Songkick, though the ticketing side of Songkick will remain separate from the deal. Songkick is still embroiled in ongoing litigation against Live Nation and Ticketmaster.

Songkick has 6-million plus concert listings and 15 millions monthly users. Warner Music’s artist and label services division WEA will oversee Songkick. This is the division that has all of the data about Warner’s artists in terms of sales, merch, streams etc, so the addition of better data on live shows could be quite valuable for Warner. The ability to see where individuals are most interested in specific artists or where there may be a pocket of fans to see an artist for a concert could be invaluable for planning a tour.

Details on how the app that has joined WMG will incorporate ticketing are still being worked out. The financial details have not been disclosed.

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